that is what Brooks says and i have seen it happen.
it is not thinking it is observation.
i had enough of this crap.
Brooks is in a different world.
there is no point in arguing about him
Trend lines
HANDLE WITH CARE.
because they are so powerful they are so destructive.
they destroyed me ,i can say that, with certainty.
they are the sole reason for my loss of 20 years.
i am still learning how to handle them.
but if you want something that is not leading or not lagging TL is...
what is a pull back?
you can only call it that, AFTER THE MOVE REVERSES. Then the pull back is confirmed
until that time of reversal, it is a trend in the other direction.
if the market is in really nasty mood, that move will just continue and continue and become even longer counter trend move...
a trend is something that continues.
and how do you define a trend
I use a trend line.
you need two points to draw a TL so you need two bars.
then you have a trend.
that will continue and that continuation can happen after a PB or without it.
so if you have third bar that breaks the high...
i came to this conclusion, after one day waking up, after doing a number of things and then wondering what the fcuk have i been trying to do for the last 20 years?
if it was not so sad i would have died laughing
i do not know what Brooks teaches.
but i do know you have to be sure which trend you are trying to enter into.
and then wait for a set up to enter.
so if that is the case why look at 14 different time frames?
just find a trend in any time frame and trade that.
i mean a pull back on daily is...
i have seen, that even the worst set up, that fail, will give you a scalp .
the failures are all traps and they have to move enough, to entice the inexperience trader to enter, and that gives scalper the high probability trade he is looking for